Estate Agents -V- DIY

BrixMorta

Hi Bridiej, In my experience the real key to selling a property is a correct asking price. Not as easy as it sounds because you don’t want to undersell, so there is always the desire to start high.

This is why EA’s are more frequently than not used because they will, within reason, ask what you would like without charging a penny if it doesn’t pay off. So with this in mind most sellers do start high and then over a period of time adjust the asking price until the interest starts to gather pace.

If you did this privately it would cost you an arm and a leg during the experimentation process.

However, once a property reaches the correct figure, watching the change in buyer’s attitude is fascinating. They stand to attention and file forward in an orderly like manner to view, make an offer, negotiate and as a rule end up paying the asking price so as not to lose their dream home.

So the moral of the storey is, if you can catch it right and market privately once your property is correctly priced, finding a buyer will be so much easier.

The next difficult step is face to face negotiation which some find awkward. Bearing in mind that most buyers are economical with the truth, you will need to do some thorough homework regarding their own situation before you accept an offer.

Then comes progressing the sale which is very frustrating as your buyers solicitor will not speak to you due to conflict of interest so you are frustratingly stuck and wholly dependent on your buyer to help expedite matters.

If your fortunate, however, all will be plain sailing and providing you get market value for your home, you will potentially save a lot of money.

frugal_dougal_3

BrixMorta wrote:

Hi Bridiej, In my experience the real key to selling a property is a correct asking price. Not as easy as it sounds because you don’t want to undersell, so there is always the desire to start high.

This is why EA’s are more frequently than not used because they will, within reason, ask what you would like without charging a penny if it doesn’t pay off. So with this in mind most sellers do start high and then over a period of time adjust the asking price until the interest starts to gather pace.

If you did this privately it would cost you an arm and a leg during the experimentation process.

Despite what Estate Agents tell you there is absolutely no logical formula for valuing a property, and they make the vendor do it because they know this.

If you push them for an opinion they do it by comparing your property with other "similar" ones. And how were those ones valued ?
YES, by comparing with other "similar" ones, and so on ad infinitum.

If you get a buyer offering the full asking price within days of your property going on the market, you either feel relieved that it's gone so quick or you torment yourself with the thought that you could have got a few more thousand.

dougk_2

This company advertises in our local paper and it looks like they cover Kent

http://www.destinations-property.co.uk

The advertise full estate agency for 0.49%+VAT....no idea what they are like though.

bridiej

Thanks for the link!!

They're only in North Kent at the moment, but have added to my bookmarks as you never know!!